DekaBank Deutsche Girozentrale Acquires 8,201 Shares of The J. M. Smucker Company (NYSE:SJM)

DekaBank Deutsche Girozentrale lifted its holdings in shares of The J. M. Smucker Company (NYSE:SJM) by 33.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 32,604 shares of the company’s stock after purchasing an additional 8,201 shares during the period. DekaBank Deutsche Girozentrale’s holdings in J. M. Smucker were worth $3,920,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Studio Investment Management LLC bought a new stake in J. M. Smucker in the 2nd quarter worth about $26,000. Quarry LP lifted its stake in shares of J. M. Smucker by 212.6% during the 2nd quarter. Quarry LP now owns 322 shares of the company’s stock valued at $35,000 after buying an additional 219 shares in the last quarter. Eastern Bank purchased a new stake in shares of J. M. Smucker during the 3rd quarter valued at approximately $40,000. Trivant Custom Portfolio Group LLC purchased a new stake in J. M. Smucker in the 3rd quarter worth approximately $42,000. Finally, Rothschild Investment LLC bought a new position in J. M. Smucker in the 2nd quarter valued at $42,000. 81.66% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on SJM. Barclays cut their price target on shares of J. M. Smucker from $123.00 to $121.00 and set an “equal weight” rating for the company in a report on Friday, August 30th. Wells Fargo & Company dropped their price objective on shares of J. M. Smucker from $140.00 to $130.00 and set an “overweight” rating for the company in a report on Thursday, August 29th. Citigroup dropped their price objective on shares of J. M. Smucker from $138.00 to $136.00 and set a “buy” rating for the company in a report on Thursday, August 29th. StockNews.com raised shares of J. M. Smucker from a “sell” rating to a “hold” rating in a report on Monday, September 30th. Finally, Bank of America dropped their price objective on shares of J. M. Smucker from $130.00 to $122.00 and set a “neutral” rating for the company in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $126.42.

J. M. Smucker Stock Performance

Shares of NYSE SJM opened at $113.51 on Friday. The firm has a fifty day moving average price of $118.58 and a 200-day moving average price of $115.64. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.55 and a quick ratio of 0.25. The stock has a market cap of $12.08 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 3.32 and a beta of 0.24. The J. M. Smucker Company has a 1 year low of $105.69 and a 1 year high of $134.62.

J. M. Smucker (NYSE:SJM) last issued its earnings results on Wednesday, August 28th. The company reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.27. J. M. Smucker had a net margin of 8.77% and a return on equity of 14.22%. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the prior year, the business earned $2.21 earnings per share. J. M. Smucker’s revenue for the quarter was up 17.7% on a year-over-year basis. Equities analysts anticipate that The J. M. Smucker Company will post 9.81 earnings per share for the current fiscal year.

J. M. Smucker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be paid a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 3.81%. The ex-dividend date is Friday, November 15th. J. M. Smucker’s dividend payout ratio is presently 61.10%.

About J. M. Smucker

The J. M. Smucker Company manufactures and markets branded food and beverage products worldwide. It operates in three segments: U.S. Retail Pet Foods, U.S. Retail Coffee, and U.S. Retail Consumer Foods. The company offers mainstream roast, ground, single serve, and premium coffee; peanut butter and specialty spreads; fruit spreads, toppings, and syrups; jelly products; nut mix products; shortening and oils; frozen sandwiches and snacks; pet food and pet snacks; and foodservice hot beverage, foodservice portion control, and flour products, as well as dog and cat food, frozen handheld products, juices and beverages, and baking mixes and ingredients.